Starting at $1,759 Per Month
- Studio - 2 Beds
405 Bishops Way, Brookfield, WI 53005
Ask about our PEP Program for a $500 One Time Rent Credit!
Brookfield Reserve
Frequently Asked Questions
How much does it cost to rent a home in Elm Grove, WI?
The median rent for a home in Elm Grove, WI is $2,487 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Elm Grove, WI?
To comfortably afford the median rent in Elm Grove, WI, a household needs to earn roughly $99,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,487 per month in Elm Grove, WI, renters typically need to show $7,461 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Elm Grove, WI?
In Elm Grove, WI, the price-to-rent ratio is 21.4, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Elm Grove, WI are best for renting a home?
The best neighborhood for renting in Elm Grove, WI depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Walker's Point, Morgandale, Greenfield Park, Fair Park and Conrad Gardens, each with its own character and price range.
